Applesauce as in ingredient substitute

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I've heard that applesauce can be used as a substitute for both oil and eggs. Any luck with that, anyone? How much should be used? Can you replace BOTH in one (baking) recipe with applesauce? (I used tomato sauce once to replace applesauce in a cake recipe - I was already committed to the cake - dry ingred. all ready - and it was all I had - turned out surprisingly not bad. Maybe I could use tomato sauce for the egg and oil in my bran muffins? Naaahhhh.)